A usually situation-My story

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Hello all,I am a 25 year old from New England who always had a passion for fixing up real estate.I went to a trade school and my father owns a construction company.A few years ago i was involved in a bad accident.To make a long story short i will be accepting a check for $250k in the coming weeks.I would love to get a loan for a rental property and can put a down payment down of 20%.My problem is i cant work in my old field and therefore am not working at this moment.My credit is around 600 right now but i have a few credit cards that are maxed out but in good standing.I plan to pay those  off and expect my credit to rise to over a 640( i lived on those for the past fear years because i was injured)My question-Anyway i cant get approved for a 200k and under mortage with that kinda cash in the bank and credit score?